Investor Presentaiton
2
DISCLAIMER (1/3)
This confidential document (the "Confidential Document") does not constitute an offer to acquire any interest
and is being communicated to a limited number of sophisticated persons who are investors or prospective
investors in funds managed by subsidiaries of CVC SIF (as defined below) as an information only document for
the purposes of providing certain summary information about existing CVC funds and their investments and is
provided on a strictly confidential basis solely as a basis for discussion. The information in this Confidential
Document has been compiled by certain subsidiaries of CVC Advisory (as defined below). This Confidential
Document is confidential to the addressee and may not be copied or passed on, in whole or in part, or its
contents discussed with any person outside the group of affiliates of the addressee or their professional
advisors.
Any forward-looking statements, forecasts, projections, valuations or results in this Confidential Document are
based upon current assumptions, may be simplified and may depend upon events outside of the control of the
CVC Entities. Changes to any assumptions may have a material impact on forward-looking statements,
forecasts, projections, valuations or results. Actual results may therefore be materially different from any
forecasts, projections, valuations or results in this Confidential Document. In considering any performance data
contained herein, you should bear in mind that past performance is not a guarantee, projection or prediction
and is not necessarily indicative of future results and actual performance may differ materially from any
projected or forecasted performance.
This Confidential Document is not intended to form the basis of any investment decision and may not be used
for and does not constitute an offer to sell, or a solicitation of any offer, or an invitation, or a general solicitation
to subscribe for or purchase, or to make any commitments for or in respect of interests or to engage in any
other transaction and should not be considered as investment or other advice. The information contained in this
Confidential Document is intended to facilitate discussion and is not necessarily meaningful or complete without
such supplemental discussion. Nothing contained herein shall be deemed to be binding against, or to create
any obligations or commitment on the part of, the addressee nor CVC Capital Partners SICAV-FIS S.A or any of
its subsidiaries, affiliates or, as applicable, its predecessors ("CVC SIF"), CVC Capital Partners Advisory Group
Holding Foundation ("CVC Advisory"), or CVC Credit Partners Group Holding Foundation ("CVC Credit")
(together with CVC SIF, CVC Advisory and CVC Credit and each of their respective affiliates, the "CVC
Entities" or "CVC" and each a "CVC Entity"). No CVC Entity undertakes to provide the addressee with access
to any additional information or to update this Confidential Document or to correct any inaccuracies herein
which may become apparent. This Confidential Document is not to be construed as investment, legal or tax
advice and no CVC Entity nor any of their respective directors, officers, employees, partners, members,
shareholders, advisers, agents or affiliates (together the "CVC Parties") make any representation or warranty,
express or implied as to the fairness, correctness, accuracy or completeness of this Confidential Document,
and nothing contained herein shall be relied upon as a promise or representation whether as to past or future
performance or otherwise. To the extent that this Confidential Document contains references to the
performance of particular investments, such investments are illustrated for informational purposes only and
such information should not be considered a recommendation of any particular investment or security. Past
performance of the CVC funds is not necessarily indicative of any future results of any CVC fund.
Unless otherwise indicated, all internal rates of return ("IRRS") and multiples of invested capital ("Multiples")
are presented on a "gross" basis (i.e. they do not reflect management fees, carried interest, taxes, transaction
costs in connection with the disposal of unrealised investments and other fees and expenses to be borne by the
relevant CVC fund or investors in such CVC fund, all of which will reduce returns and, in the aggregate, are
expected to be substantial). Unless otherwise indicated, "Net IRRs" and "TVPI" are calculated after deducting
all priority profit share, management fees, carried interest, transaction costs and other expenses (other than
taxes borne or to be borne by investors in a relevant CVC fund, including as a result of an investor's domicile).
The "Net IRRs" and "Net Multiple" calculations are based on the cumulative management fees and carried
interest borne by such CVC funds' investors. Accordingly, the "Net IRR", "Net DPI", "Net TVPI" and/or "Net
Multiple" applicable to any particular investor in such CVC funds may be higher or lower than those shown
herein. Unless otherwise indicated, "Gross IRR" and "Net IRR" shall mean an aggregate, compound, annual,
gross or net, as applicable, internal rate of return on investments. Gross IRRs and Net IRRs are based on
monthly cash flows. As used in this Confidential Document, "TVPI" refers to the total value to paid-in capital and
"DPI" or "Cash on Cash" refers to the distributions to paid-in capital. Returns shown for Fund VI and Fund VII
include the effect of utilising a capital call credit facility which materially enhance Fund VI and Fund VII's IRRS
but reduce Fund VI's and Fund VII's MoM through delayed equity funding (please see the footnotes 9 and 10
on page 9 for details). Fund V Net IRR includes aggregated Fund performance data including non-fee paying
investors (being certain CVC associated individuals and employees (and such individuals' and employees'
relatives and/or personal holding arrangements) who participated in Fund V on a "no fee no carry" basis). Non-
fee paying investors represent less than 2.6% of total Fund V commitments and therefore, this has a de minimis
impact on fund returns. Prospective investors are encouraged to contact their relevant CVC representative to
discuss the procedures and methodologies used to calculate the investment returns and other information
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